NCLT refuses to stay Byju's EGM to increase its authorised share capital

[Bilgin]

NCLT refuses to stay Byju's EGM to increase its authorised share capital If Byju's obtains a majority vote for its proposal to increase the authorised share capital, it can issue fresh shares to new investors, helping it to raise $200 million through a rights issue at a 99% cut from its peak valuation of $22 billion achieved in 2022.